RI suffers trade deficit of US$1.63 billion in April

Jakarta (ANTARA News) – The Central Bureau of Statistics (BPS) has recorded that Indonesias trade in April suffered a deficit of US $ 1.63 billion.

Head of BPS Kecuk Suhariyanto told a press conference in Jakarta on Tuesday that the deficit of Indonesias April 2018 trade balance was triggered by oil and gas sector deficit of 1.13 billion US dollars and non oil and gas amounting to 495 million US dollars.

“The balance of trade in April 2018 was beyond expectations, which experienced a deficit of 1.63 billion USD,” said Suhariyanto

He explained that the trade balance deficit was also triggered by an increase in imports in April 2018 which is also very high, amounting to 16.09 billion US dollars, up 11.28 percent compared to March 2018.

Meanwhile, Indonesias export value in April 2018 reached 14.47 billion US dollars. Thus, the total deficit becomes 1.63 billion US dollars.

The balance of trade in April 2018, according to Suhariyanto, is beyond expectations because in March 2018 the trade balance recorded a surplus of 1.12 billion dollars.

Meanwhile, in the cumulative period of January-April 2018, the trade balance experienced a deficit of 1.31 billion US dollars.

The trade balance deficit for the period of January-April 2018 was affected by the oil and gas sector, where oil output was still in a deficit of 4.5 billion US dollars and crude oil in a deficit of 1.6 billion US dollars.

Only exports of gas increased so that they enjoyed a surplus of 2.4 billion US dollars. On the other hand, non-oil/gas exports and imports experienced a surplus of 2.5 billion US dollars.

Viewed from destination countries, Indonesia experienced a surplus to the United States of 2.78 billion US dollars; India $2.6 billion and the Netherlands $920 million.

Meanwhile, the highest deficit occurred against the trade with China reaching 5.76 billion US dollars; Thailand amounted to 1.5 billion US dollars and Australia valued at 793 million dollars.

Suhariyanto added that fluctuations in commodity prices both oil and gas and non-oil and gas during March-April 2018 affected the value of exports and imports.

“For example, the average price of Indonesian crude oil on the world market in March 2018 was still 61.87 US dollars (per barrel), then April 2018 rose to 67.43 US dollars,” he said.

Source: ANTARA News